Which Sales Forecasting Approach Is Effective When Intimate Knowledge of Customer

question 32

Multiple Choice

Which sales forecasting approach is effective when intimate knowledge of customer plans is important?

• A)executive judgment
• B)Delphi method
• C)time series
• D)sales force composite
• E)causal analysis

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Definitions:

Proportion

A statistical measure that reflects the fraction or percentage of the total number of items or cases that fall within a certain category or exhibit a particular attribute.

Central Limit Theorem

A statistical theory that states that given a sufficiently large sample size from a population with a finite level of variance, the mean of all samples from the same population will be approximately equal to the mean of the population.

Sample Mean

The average value of a sample subset of a larger population, used as an estimate of the population mean.